In a tweet from May 17, SafeMoon announced preparations for an office setup in The Gambia
John Karony, CEO of SafeMoon and United States veteran, has launched Operation Phoenix, which seeks to set up a SafeMoon office in The Gambia. While the name is somewhat cynical and provocative, linking the project to a US military mission during the Vietnam War, odd choice of words at best, SafeMoon wishes to create jobs in the area and boost the local economy, while simultaneously boosting the young cryptocurrency.
A followup tweet clarified that the SafeMoon will not replace the Dalasi, which is the fiat currency of The Gambia, but instead be “another tool in their forward-leaning, innovative efforts”. Plans are proceeding with the involvement of Ambassador at-Large Sankung Jawara, who is responsible for the initial vetting of the interstellar crypto brand.
In addition, SafeMoon has announced intentions to pursue charity projects for the rest of the year, though the exact architecture thereof has yet to be announced. The move to Africa goes in concordance to expansion plans throughout the year, including a SafeMoon educational app and games, according to their website.
They also wish to expand their team by 35% and set up an office in UK/Ireland within Q2 2021. By the end of the year, SafeMoon wishes to integrate other African markets as well. This adds up to an incredible rocket launch of the new-born crypto, which entered the market on March 13. The slogan “Safely to the Moon”, which anticipated a slow but steady course, was therefore well outlived by an already multi-continent company.
The Blockchain-based SafeMoon crypto is designed to not be the subject of major speculation, and instead undertakes strict efforts to retain an intrinsic trading value. In order to achieve that goal, the company levied a 10% fee on any sales of the crypto. Half of the fee is then redistributed to the holders of SafeMoon, rewarding the long term cryptonauts and discouraging rash currency trading.
In order to further regulate the supply, the operators of SafeMoon occasionally burn coins manually, avoiding sudden hype bumps on the graph. Despite these levies, SafeMoon is one of the fastest growing cryptocurrencies on the market, with a market cap of just under $4.2 billion distributed among just more than 2 million holders. The current worth lies at around $0.0000072.
Which purchases are open to SafeMoon is a question yet to receive a good precise answer, however at this rate, vendors will surely flock in waves sooner than later.
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